New York Mercantile Exchange (Nymex) provided preliminary
results of its board elections on 2 May. As expected, Richard
Schaeffer was nominated as chairman with Robert Halper as vice
Nymex president and CEO Jim Newsome and General Atlantic
president William Ford were also elected to the board.
The elections have been the source of controversy in recent
weeks with more than 50 nominations for the 15 seats. The
exchange decided to cut the number of board members from 25 to
15, considered an important step towards streamlining
management structure in preparation for IPO.
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